In case you’re owed money by Highbury – although let’s face it, unless you’re a preferential creditor, there’s probably nothing coming for us because of all the debts the company owed to preferred creditors – I thought I’d give you an idea of how long it takes liquidators to decide how much money to dish out.
I’ve just received notice that the liquidators of a company that went bankrupt mid-2004, owing me £875 from an invoice I’d sent in May 2004, are about to pay out. I’ll get 22.98p in the pound.
So that’s just over two years to get paid a fifth of what I was owed. The wheels of financial justice move slowly, my friends.
Actually, the liquidator were going to pay out in August, but they got my address wrong and sent the cheque to the wrong address. I only found out because they’ve just sent me the “we’re winding things up now” letter, which somehow made it through.
PS Anyone who did work for Highbury’s “ringfenced fund” back in January should now have received a letter telling them what’s happening. If you haven’t yet received a letter, give BDO Stoy Hayward a call or else you won’t stand a chance of getting paid.